Updated Nov 4, 2023
Stephen Han & Weisheng Tao Acquire Upland Industrial Warehouse For $12M
420 South Eleventh Avenue Upland, California 91786, Usa
$12,000,000
$183/SF
Building Size
65,520 SF
Asset Type
Industrial
Closing
Aug 4, 2023
About this deal
AI
A warehouse property in Upland has been sold for $12 million. The property, located at 420 South Eleventh Avenue, spans 65,520 square feet. The purchase price equates to $183 per square foot. The warehouse currently houses Bradshaw Trucking and is situated in close proximity to Interstate 10. The area surrounding the property is a mix of residential and commercial buildings.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $12,000,000
- Square Footage: 65,520 sq. ft.
- Address: 420 South Eleventh Avenue
- Market: Upland
Stephen Han and Weisheng Tao's entity was the buyer in this transaction. They have acquired the Upland warehouse, expanding their real estate portfolio. The property's strategic location near Interstate 10 offers convenient access to transportation routes. The presence of residential and commercial buildings in the area indicates a vibrant neighborhood for business operations.
Players
Alpena Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93